Revenue: As of FY2026 Q1, the actual value is USD 383.EPS: As of FY2026 Q1, the actual value is USD -0.65.EBIT: As of FY2026 Q1, the actual value is USD -1.271 M.<h3>Refined Crude Oil Segment (Foreland Refining)</h3><h4>Revenue</h4><ul><li>Net Sales: For the three months ended March 31, 2026, net sales were $383, a 100% decrease from $6,332,967 in the same period of 2025, primarily due to crude supplier disruptions and maintenance delays at the Eagle Springs refinery .<ul><li>Diesel: $382 in 2026 compared to $1,852,935 in 2025 (-100% YoY) .</li><li>Liquid Asphalt: $1 in 2026 compared to $2,724,298 in 2025 (-100% YoY) .</li><li>VGO: $0 in 2026 compared to $1,624,504 in 2025 (-100% YoY) .</li><li>Naphtha: $0 in 2026 compared to $120,486 in 2025 (-100% YoY) .</li><li>Other: $0 in 2026 compared to $10,744 in 2025 (-100% YoY) .</li></ul></li></ul><h4>Operational Metrics</h4><ul><li>Cost of Goods Sold: Decreased by 94% to $389,601 in 2026 from $7,059,059 in 2025, reflecting the decline in net sales .</li><li>Gross Margin: Improved to - $389,218 in 2026 from - $726,092 in 2025 . The cost of goods sold as a percentage of net sales was 101,723% in 2026 versus 112% in 2025, which is considered not meaningful due to the refinery’s non-operational status in Q1 2026 .</li><li>Operating Expenses: Total operating expenses decreased by 37% to $1,215,446 in 2026 from $1,937,485 in 2025 .<ul><li>General and Administrative: Decreased by $722,221 to $1,213,236 in 2026 from $1,935,457 in 2025, mainly due to reductions in executive compensation and professional fees .</li><li>Depreciation and Amortization: Increased slightly to $2,210 in 2026 from $2,028 in 2025 .</li></ul></li><li>Loss from Operations: Improved to - $1,604,664 in 2026 from - $2,663,577 in 2025 .</li><li>Other Income (Expense), Net: Totaled - $715,581 in 2026 compared to - $670,117 in 2025 .<ul><li>Interest Expense: Decreased to - $333,989 in 2026 from - $901,561 in 2025 .</li><li>Loss on Extinguishment of Debt: Increased to - $269,396 in 2026 from - $56,660 in 2025 .</li><li>Loss on Warrant Revaluation: Resulted in a loss of - $75,342 in 2026, compared to a gain of $274,980 in 2025 .</li></ul></li><li>Net Loss: The net loss was - $2,320,245 for the three months ended March 31, 2026, an improvement from - $3,333,694 for the same period in 2025 .</li></ul><h4>Cash Flow</h4><ul><li>Operating Activities: Net cash used in operating activities was - $588,631 for the three months ended March 31, 2026, an improvement from - $1,963,224 in 2025 .</li><li>Investing Activities: Net cash used increased to - $443,380 in 2026 from - $316,210 in 2025, mainly due to purchases of property, plant, and equipment .</li><li>Financing Activities: Net cash provided was $1,064,894 in 2026, a significant increase from - $24,050 used in 2025, driven by proceeds from lines of credit, notes payable, and common stock issuance .</li><li>Cash and Restricted Cash: Total cash and restricted cash was $838,586 as of March 31, 2026, compared to $1,011,851 as of March 31, 2025 .</li></ul><h4>Segmented Assets</h4><ul><li>Foreland Refining: Total assets were $8,292,577 as of March 31, 2026, compared to $8,497,814 as of December 31, 2025 .</li><li>2020 Resources LLC (PR Spring facility): Total assets were $11,019,526 as of March 31, 2026, compared to $10,717,007 as of December 31, 2025 .</li></ul><h4>Unique Metrics</h4><ul><li>Inventory: As of March 31, 2026, inventory totaled $654,912, comprising $102,374 in finished goods, $329,751 in raw materials, and $222,787 in chemicals .</li><li>Mineral Leases: Sky Quarry Inc. holds mineral leases covering approximately 5,880 net acres in Utah, with an annual rent of $5,880 and an annual advance minimum royalty of $426,000 as of March 31, 2026 .</li><li>Oil and Gas Properties (PR Spring facility): Capitalized costs for the facility under construction amounted to $8,783,450 as of March 31, 2026 .</li><li>Warrant Liability: Increased to $172,828 as of March 31, 2026, from $97,486 as of December 31, 2025 .</li><li>Debt: Total debt increased to $17,314,288 as of March 31, 2026, from $16,027,854 as of December 31, 2025 .</li></ul><h4>Future Outlook and Strategy</h4>Sky Quarry Inc. faces significant doubt about its ability to continue as a going concern, with an accumulated deficit of $38,486,733 and negative operating cash flows of - $588,631 for the three months ended March 31, 2026 . To address this, the company plans to increase revenues by securing more crude oil for the Foreland refinery, reduce debt through refinancing, establish strategic partnerships, and raise capital via equity or debt offerings . The Eagle Springs refinery is expected to be operational by the end of the second quarter of 2026, and the PR Spring facility is intended for retrofitting and completion in the 2027 calendar year, contingent on necessary funding .

Sky Quarry | 10-Q: FY2026 Q1 Revenue: USD 383